3 Jul 2010

To Let The Hobbit Go ? MGM Requesting Sixth Debt Extension

Oh dear...oh dear...I can barely believe I am sitting here writing this. MGM will request a sixth extension on debts and interest payments due in a few days THR is reporting. I really think the time has come for MGM to let the rights of The Hobbit go! It was back in March this year I first hinted it was time to sell off...that time is now! Warner Bros. is ready to take over and when they do the project will finally be able to take off once and for all.

Meanwhile, speculation continues about whether the studio will sell off its share of rights to "The Hobbit" to co-production partner Warner Bros., whose New Line is overseeing project development with director Peter Jackson; shooting is set to begin in January. MGM executives would like to hold onto its share of the "Hobbit" rights as long as possible, but some lenders are lobbying for a sell-off to raise funds. (source THR)

Sell them...please, just give them to people that are willing and ready to take over this project and make this movie at last. As much as I dislike this whole saga, I also have a feeling that maybe...just maybe we are getting close to a resolution. Finally we have Peter Jackson willing and ready to talk about directing The Hobbit and it would be a real disaster if due to a few greedy MGM lenders we were to loose him too. Life goes on and it is an other beautiful and sunny day in the Shire so in wishing you all a great week end , I shall keep my fingers and hairy toes crossed for a resolution that is well over due.